Cartesian Therapeutics (NASDAQ:RNAC) Posts Quarterly Earnings Results

Cartesian Therapeutics (NASDAQ:RNAC) announced its earnings results on Thursday. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.62), FiscalAI reports. The business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.22 million.

Cartesian Therapeutics Stock Performance

Shares of NASDAQ RNAC traded down $0.25 during mid-day trading on Thursday, reaching $6.22. The company had a trading volume of 136,453 shares, compared to its average volume of 162,765. The stock has a fifty day moving average of $6.86 and a two-hundred day moving average of $7.29. The company has a market capitalization of $182.25 million, a price-to-earnings ratio of -1.21 and a beta of 0.47. Cartesian Therapeutics has a 12-month low of $5.60 and a 12-month high of $15.57.

Institutional Trading of Cartesian Therapeutics

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP lifted its position in shares of Cartesian Therapeutics by 110.1% in the fourth quarter. Marshall Wace LLP now owns 178,140 shares of the company’s stock worth $1,284,000 after purchasing an additional 93,334 shares in the last quarter. Millennium Management LLC lifted its position in shares of Cartesian Therapeutics by 548.2% in the fourth quarter. Millennium Management LLC now owns 164,366 shares of the company’s stock worth $1,185,000 after purchasing an additional 139,009 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Cartesian Therapeutics in the fourth quarter worth approximately $316,000. Renaissance Technologies LLC purchased a new stake in shares of Cartesian Therapeutics in the fourth quarter worth approximately $296,000. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Cartesian Therapeutics in the third quarter worth approximately $256,000. 86.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on RNAC. BTIG Research reiterated a “buy” rating on shares of Cartesian Therapeutics in a report on Monday, March 9th. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Cartesian Therapeutics in a report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cartesian Therapeutics in a report on Friday, March 27th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Cartesian Therapeutics in a report on Monday, March 9th. Finally, Cantor Fitzgerald upgraded shares of Cartesian Therapeutics from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a report on Monday, March 9th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cartesian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Cartesian Therapeutics Company Profile

Cartesian Therapeutics, trading on NASDAQ under the symbol RNAC, is a clinical‐stage biotechnology company specializing in the development of messenger RNA (mRNA)-based therapeutics. The company leverages a proprietary RNA delivery platform to induce the production of therapeutic proteins within patients, aiming to address a range of diseases through in vivo expression of disease-modifying agents. Cartesian’s technology is designed to optimize mRNA stability, translation efficiency and targeted delivery, with potential applications spanning oncology, autoimmune disorders and rare genetic conditions.

At the core of Cartesian’s approach is a synthetic mRNA platform that incorporates proprietary lipid nanoparticle (LNP) formulations.